GIBBSBORO, N.J., Jan. 22 /PRNewswire/ -- MedQuist Inc. (NASDAQ: MEDQ) announced today that it has signed a non-binding letter of intent to sell its home health care business to Home Health Corporation of America, Inc., a Pennsylvania-based home care provider.
In announcing the plan to divest its home health care unit, MedQuist President and Chief Executive Officer Richard J. Censits said that the transaction is another step in the company's overall strategy to position MedQuist as a national provider of business and information services for the health care industry.
The final sale is subject to negotiation of a definitive agreement.
MedQuist provides receivables management and financial consulting services to hospitals and health care providers nationwide. Its regional service centers are located in New Jersey, Ohio, Texas and Florida. The company also owns and operates a regional medical transport business serving the New Jersey/Philadelphia markets.
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/CONTACT: Patricia Freebern, vice president of corporate relations of MedQuist, 609-782-0300/
(MEDQ)